Bitcoin (BTC) continues to show resilience at the critical $105,000 support level, with bulls maintaining their defensive position despite cooling momentum in the broader crypto market. As long-term holders reduce their selling pressure at these levels, the leading cryptocurrency faces a crucial test of market sentiment.
Bitcoin Price Analysis: Key Technical Levels
As of June 4, 2025, Bitcoin is trading at $105,289, representing a slight pullback from the recent high of $106,854. Key metrics include:
- Market Capitalization: $2.09 trillion
- 24-hour Trading Volume: $24.92 billion
- Daily Trading Range: $105,293 – $106,854
Technical Indicators and Market Structure
The one-hour chart reveals a developing micro downtrend, characterized by:
- Formation of lower highs and lower lows
- Critical support at $105,000
- Resistance zone between $106,800 – $107,000
Market Sentiment and Volume Analysis
The current price action aligns with recent analysis suggesting a potential consolidation phase before the next major move. As noted in our recent coverage of Bitcoin’s path to $140,000, the $106,000 level represents a crucial resistance zone that could determine the medium-term trend.
Expert Outlook and Price Targets
Market analysts remain cautiously optimistic, with key levels to watch:
- Immediate Support: $105,000
- Secondary Support: $103,500
- Primary Resistance: $106,854
- Major Resistance: $107,500
Frequently Asked Questions
What is causing Bitcoin’s current price consolidation?
The consolidation appears driven by a combination of profit-taking at higher levels and renewed accumulation by institutional investors at support.
Could Bitcoin break below $105,000 support?
While possible, strong buyer interest and reduced selling pressure from long-term holders make a sustained break below this level less likely in the immediate term.
What are the key levels to watch for a breakout?
A decisive move above $107,000 could trigger a rally toward $110,000, while a break below $105,000 might test support at $103,500.
Traders should maintain strict risk management practices given the current market conditions and watch for volume confirmation on any breakout attempts.
